The Pair is consolidating again at the same level where previously consolidation was seen. The breakout was seen on the downside after consolidation previously. Recent consolidation breakout can be expected on the upside. Sellers are trying to push the price below and buyers have been active in the market which is leading to consolidation.

The pair is trading above the EMA indicating a long market.

The Pair has to close above 100.25 for buyers to get more interested and short covering can be seen in the pair at same levels.

Advice : Excepted breakout on the upside.

CAD/JPY

May 14 2022